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Nifco fiscal Q1 profit climbs 26.6% YOY

Nifco Inc. said its normalized net income for the fiscal first quarter ended June 30 came to ¥55.98 per share, a gain of 26.4% from ¥44.29 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.96 billion, an increase of 26.6% from ¥2.34 billion in the year-earlier period.

The normalized profit margin increased to 5.7% from 5.7% in the year-earlier period.

Total revenue climbed 26.4% on an annual basis to ¥51.99 billion from ¥41.14 billion, and total operating expenses increased 23.0% from the prior-year period to ¥46.63 billion from ¥37.91 billion.

Reported net income rose on an annual basis to ¥2.82 billion, or ¥53.31 per share, from ¥1.09 billion, or ¥20.68 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.